Q: Does Pennsylvania income tax excludes foreign pensions that are taxed by the foreign public agency paying them ?
It seems the Pennsylvania revenue only taxes 8 type of income excluding commonly recognized retirement benefits as per FAQ
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A:
In Pennsylvania, personal income tax applies to eight specific categories of income, and the state's tax law typically excludes common retirement benefits from taxation. This generally includes foreign pensions if they are considered retirement income. However, to qualify for exclusion, the foreign pension should align with the retirement benefits recognized by Pennsylvania.
If the foreign pension meets the requirements, it should not be subject to Pennsylvania income tax. It is important to confirm that the pension qualifies as a recognized retirement benefit under Pennsylvania's rules.
If there is any uncertainty, carefully review the specific details of your foreign pension and how it aligns with Pennsylvania's tax exclusions for retirement benefits. You may also want to check for any updates or specific guidance from Pennsylvania's Department of Revenue.
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